203(k) Rehabilitation Mortgage Insurance 4240.4 WORD[601] by f9d602f216ec8297


									                                                             4240.4 REV-2

                             203(k) INDEX

Accounting of Escrow Funds: 1-20, Appendix 13
Acceptance of Bid: 6-3
Acceptance of Borrowers Application: 3-2.E
Acquisition Cost: 4-3
Additions: 1-7, 1-8
Advertisement of HUD-owned Property: 6-7
Affordable Homeownership Program: Chapter 7, Appendix 14
After Rehab Value: 2-2.B, 2-3, 2-6
Air Infiltration:1-8
American Society of Home Inspectors (ASHI): 3-2.C
Amortization: 1-12
Appliances: 1-7
Applicant's Acknowledgement: 1-9.B, Appendix 4
Application Forms: 1-14
Appraisals (Required): 2-2
Appraisal Fees: 1-10.B, 1-13.C
Appraiser: 1-19.C, 2-6
Appraiser's Responsibilities: 3-2.G
Architect (Consultant): 3-2.C
Architectural Exhibits: 1-15.A, 2-2, 2-4.C, 3-2.C & F, 5-1
Architectural Fees: 1-10.B
As-Is Value: 1-10.A, 1-13.C, 2-2.A, 2-3, 2-4, 4-2, 6-3
Assignment of Mortgage: 1-18, 5-2.F
Assumable Loan: 1-10.A
Assuming Mortgagor: 1-10.A

Bid Acceptance: 6-1, 6-3
Bonding: 1-20
Building Permits: 1-9.D, 1-10.B, 4-9
Builder/Rehabber: 1-10.A

Cabinetry: 5-2.C
Case Binder (Disposition): 3-2.E, 5-3
Change Order Request: 1-9.F, 5-2.A & B
Claim for Insurance Benefits: 1-18, 5-2.F
Closing Costs: 1-10.A, 2-2.A, 4-7
Compliance Inspection Report: 1-9.B & D, 1-19.D, 5-2.C, E & F
Community Development Block Grant (CDBG): 7-2
Community Participation: Chapter 7
Community Sponsored Program of
 Redevelopment or Revitalization: 1-10.C, 2-2.B, 2-6

       4240.4 REV-2

Conditional   Commitment: 1-14, 2-3, 2-4, 3-1, 4-2
Conditional   Title: 7-2, Appendix 14
Condominium   or Cooperative Unit: 1-4
Contingency   Item Inspections: 5-2.C
Contingency   Release Letter: 5-2.C, Appendix 6
Contingency   Reserve: 1-9.F, 1-10.B, 1-13.B, 5-2.B
Contingency   Reserve Notice: 2-4.D, Appendix 4
Consultant: 3-2.C
Converting Non-residential Buildings: 1-4
Cost Estimate: 3-2.A, C, F & G
Cost Estimating Books: 3-2.F
Cost Increase/Decrease: 5-2.B
Cost Incidental to Closing: 4-3
Cost of Rehabilitation: 1-10.A & B, 2-4, 4-3.C

Debt Service Requirement: 4-10
Deed Restrictions: 7-1
Default: 1-18, 5-2.F
Denver Affordable Homeownership Program: Appendix 14
Detached Garage: 1-7
Direct Endorsement (DE): 1-19
DE Staff Appraiser: 1-19.C, 2-6, 3-2.G
DE Staff Inspector: 1-19.C
DE Underwriter: 1-19.D, 2-3
Description of Materials: 3-2.C
Design Consultant: 3-2.C
Discount Points: 1-11, 4-8
Discount Points on Cost of Rehabilitation: 1-10.B, 1-14.A
Downpayment: 1-10, 1-10.A
Draw Request: 1-9.B, C & D, 1-19.D, 2-4, 3-2.C, 4-9, 5-2.C & F, Appendix 9

Earnest Money Deposit: 6-5, 6-6
Earthquake Hazard Evaluation: 3-2.C
Electrical Inspection: 3-2.C, 6-4
Electrical Report: 3-2.C, 6-4
Eligible Improvements: 1-7
Eligible Property: 1-4
Endorsement by HUD: 1-3, 1-14.B, 5-1
Engineering Fees: 1-10.B
Engineering Service: 3-2.C
Escrow Commitment Certificate: 1-10.A
Escrow Commitment Procedure: 1-9.B, 1-10.A, 2-4.A, 4-5, Appendix 10
Escrow Commitment Procedure - Statement of Understanding: Appendix 8


                                                            4240.4 REV-2

Escrow Release: 1-9.B & C, 5-2.C & D
Existing Indebtedness: 1-10
Existing Plan: 3-2.C
Extension Fees: 6-5, 6-6
Extension of Time: 5-2.A & B
Extension to Sales Contract: 6-6

Fee Inspector (HUD-Approved): 1-9.D, 2-4
Field Reviews: 1-19.A & E
Final Inspection: 1-9.E, 5-2.C & F
Final Inspection Letter: 5-2.C, Appendix 5
Final Inspection Report: 5-2.E
Final Release of Escrow Funds: 1-9.B
Final Release Notice: 1-9.E & F, 5-2.E & F, Appendix 7
Firm Commitment: 1-14, 4-8
First Lien: 1-6, 1-9, 3-1
First Time Homebuyer: 1-10.A
Foreclosure: 5-2.F
Forms Required by this Handbook: Page vi

General Insurance Fund: 1-17

Handicap Accessibility: 1-7.I
Health, Safety and Necessity: 1-9.F, 5-2.B
Heating and Air Conditioning Systems: 1-8.A, 6-4
Heating Report: 3-2.C
Highest Net Offer: 6-3
Holdback: 1-9.B & E, 5-2.C, E & F
Homebuyers Qualification Statement: 3-2.D
Homebuyers Selection of Mortgage Lender: 3-2.D
Home-Tech "Remodeling and Renovation Cost Estimator": 3-2.F
How is the 203(k) Program Different: 1-1
How the 203(k) Program Can be Used: 1-5
Hot Tub: 1-7
HUD-accepted Bid: 6-3
HUD-owned Properties: 2-2, Chapter 6
HUD's Inventory: Chapter 6

Identity of Interest Closing Agents: 1-20
Income Analysis: 4-5
Increased Construction Costs: 1-9.F
Initial Draw Request: 5-2.C
Inspections: 1-9.D, 4-9, 5-2
Inspection Fees: 1-9.D, 1-10.B, 1-13.D


     4240.4 REV-2

Inspection Report: 3-2.C
Inspection Service: 3-2.C
Inspection of Utilities: 6-4
Inspectors: 1-19.C, 2-4
Insulation: 1-8.A
Insurance of Advances: 1-9.A, 5-1.B
Insurance Benefits: 1-18
Interest on Rehabilitation Escrow Account: 1-9.B
Interest Rate: 1-11
Intermediate Draw Requests: 5-2.C
Investment Property: 1-10.A
Investor: 1-10.A, 4-5, 6-1

Kitchen/Bath Cabinetry: 5-2.C

Lead Base Paint: 1-7.C
Lease Agreements: 4-5
Lenders Agent: 1-9.C
Length of Rehabilitation Construction Period: 5-2.A
Liens: 1-18
Lien Protection: 1-9.E, 1-13.B & E, 5-2.D
Listing of Handbook and CFR References: Page i
Local Government Participation: Chapter 7
Local Urban Homesteading Agency: 7-3

Manufactured (Mobile) Home: 1-4
Market Value Limitation: 1-10.C, 2-6
Market Value of the Property: 1-10.A & C, 2-2.B, 2-3, 2-4
Marketability Analysis (Preliminary): 3-2.A
Maximum Charges and Fees: 1-13
Maximum Mortgage Amount: 1-9.A, 1-10, 2-3, 2-4
Maximum Mortgage Calculation: 1-10.A
Maximum Mortgage Limit: 1-9.F
Maximum Mortgage Worksheet: 2-3, 4-7, 4-8, Appendix 11
Maximum Owner-Occupant Financing: 1-10.A
Major Remodeling: 1-9.F
Mechanics Liens: 1-18, 5-2.D
Minimum $5,000 Requirement for Improvements: 1-7
Minor or Cosmetic Repairs: 1-7
Monthly Mortgage Payments: 1-9.G
Mortgage Credit Procedures: Chapter 4
Mortgage Credit Analysis Worksheet: 4-8
Mortgage Documents: 1-15, 1-15.A
Mortgage Insurance Certificate (Issuance): 5-1.C
Mortgage Insurance Premium (MIP): 1-17, 4-1
Mortgage Loan Closing: 4-9


                                                            4240.4 REV-2

Mortgage Payment Reserve: 1-9.G, 1-10, 1-10.B, 4-10
Mortgage Position: 1-6, 1-20, 3-1
Moveon: 1-4, 1-5.B, 1-6
Multi-unit Properties: 1-4, 1-9.G

Neighborhood Improvements: 1-10.C, 2-2.B, 2-6
Newspaper Notice: 6-7
No Insured Advances: 5-1.A
Non-Occupant Mortgagor: 1-10.A
Non-profit Organization: 7-1, 7-2
Non-residential Use: 1-4

Occupancy Permit: 5-2.E
Offer to Purchase: 6-2
Origination Fee: 1-13.A, 4-8
Owner-Occupant: 1-10.A

Painting: 1-7
Permit to Occupy: 5-2.E
Plan Reviewer: 1-13.B, 3-2.C & F
Plan Reviewer's Responsibilities: 3-2.F, 5-2.G
Plan Reviewer Scheduling: 3-2.E
Plan Review Fee: 1-13.B, 3-2.G
Plot Plan: 3-2.C
Plumbing Inspection: 3-2.C, 6-4
Plumbing System Report: 3-2.C, 6-4
Post-Endorsement Review: 1-19.A
Pre-closings: 1-19.A
Preliminary Feasibility Analysis: 3-2.A
Prepayment of Mortgage Principal: 5-2.E
Prequalification of Homebuyer: 3-2.D
Principal, Interest, Taxes and Insurance (PITI): 1-9.G, 4-10
Principal Residence: 1-10.A
Property Disposition: Chapter 6
Proposed Plan: 3-2.C
Public Advertisement of HUD-owned Property: 6-7
Public Water and Sewer: 1-7.D
Purchase a Dwelling on Another Site: 1-5.B

Qualified Engineering or Inspection Service: 3-2.C, 1-10.B
Quality Control Plan: 1-20
Questions and Answers: Appendix 12


     4240.4 REV-2

R.S. Means "Repair and Remodeling Cost Data": 3-2.F
Receiving Clerk (HUD) Responsibilities: 3-2.H
Reserve (Debt Service): 4-10
Redevelopment (Neighborhood): 1-10.C, 2-2.B, 4-6
Reduction of Mortgage Balance (Principal): 1-9.F & G, 1-10.A
Refinance: 1-5, 4-7
Regulations: 1-2
Rehabilitation Checklist: 3-2.C, Appendix 1
Rehabilitation Cost: 1-10.A & B, 2-4, 4-3.C
Rehabilitation Escrow Account: 1-9.B, 1-20, 4-9, 5-1.B, 5-2.D
Rehabilitation Loan Agreement: 1-9.C, 1-15.A & B, 2-4.B, 4-9, 5-2.A,
                               Appendix 2
Rehabilitation Period (Construction): 5-2
Rehabilitation Rider: 1-15.B, Appendix 3
Release of Escrow Funds: 1-9.B & C, 4-9, 5-2.C & D
Request for Insurance Endorsement: 1-14.B
Request for Payment: 1-9.C
Required Appraisals: 2-2
Required Improvements: 1-8
Requirements for Existing Housing (HUD Handbook 4905.1): 1-4
Review Appraiser: 2-3
Roofing Report: 3-2.C

Table of Contents: Page iii of Foreword
Tax-exempt Bonds: 7-2
Termite Damage: 1-9.F
Termite Report: 3-2.C
Thermal Efficiency: 1-8
Thermal Protection Report: 3-2.C
Title Company: 1-13.E, 1-20
Title Update Fee: 1-13.E
Training: 1-19.A

Sales Contract: 3-2.B, 6-5
Sale to Local Government: 6-8,7-2
Second Lien: 1-6, 1-14.B, 1-15.B, 1-18, 3-1
Section of the Act Codes: 1-16
Section 220: 2-6
Section 223(e): 1-19.B, 2-5
Security Instrument: 1-13.E, 1-15, 1-20, 5-2.D
Seismic Zones: 3-2.C
Seven (7) Unit Limitation: 4-6
Sewer: 1-7.D
Smoke Detectors: 1-8.B


                                                            4240.4 REV-2

Solar Energy Increase in Loan Amount: 1-10.D
Statement of Appraised Value (DE): 2-3, 2-4, 3-1, 4-2
Step-by-Step Procedures: 3-2
Structural Report: 3-2.C
Supplemental Origination Fee: 1-10.B, 1-13.A, 1-14
Sweat Equity: 3-2.D
Swimming Pool: 1-7

Utilities: 1-9.F, 1-13.B, 3-2.C, 6-4

Valuation Processing Procedures: 2-1
Value of the Property: 2-4.A, 4-2
Ventilation of Attic and Crawl Space: 1-8.A

Waiver of Market Value Limitation: 1-10.C
Water: 1-7.D
Weatherstripping of Doors and Windows: 1-8.A
Work Write-up: 1-9.B, 3-2.C


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